Forex: EUR/USD capped just below 1.2900

FXstreet.com (Barcelona) - The risk sentiment has been improving since mid-European session, but found resistance just below 1.2900, printing its daily high at 1.2898 and allowing profit taking down to 1.2885 area.

After the Rajoy-Hollande meeting, the French President said that lack of confidence is holding back the Eurozone growth and the Spanish Prime Minister aims to beat the IMF growth forecasts.

“The downtrend here is absolutely intact and I expect 1.2906 intraday resistance to limit the upside and to initiate a new wave downwards, through 1.2802, en route to 1.2750”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to resistance at 1.2990.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS